Vizsla Silver Corp (OTCMKTS:VIZSF) has been in the middle of a pretty bullish upward curve over the past few days and it continued this morning as the stock clocked gains of 4%. That took its gains for the past week to 25%.
There has been no news about the company this morning but yesterday, the company announced that on September 20, 2021 the effective spin out of Vizsla Copper Corp will take place at 12-01 a.m. As per the terms of the arrangement that has been charted out by the company, those who hold common shares of Vizsla Silver Corp as of September 17, 2021 will get one common share of Vizsla Copper Corp and a third of a share in SpinCo.
However, that is not all. Those common shares of Vizsla Silver Corp which currently exist are going to be delisted from the Toronto Venture Exchange on September 17, 2021 and commence trading yet again on September 20, 2021. The Chief Executive Officer and President of the company Michael Konnert spoke about the move as well. He stated that organising its early stage copper assets under a new company will allow Vizsla Silver Corp to concentrate on its other businesses more effectively.